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Marcus & Millichap Closes Back-to-Back Deals in Elgin

Marcus & Millichap has brokered the sale of Regency Apartments (pictured), a 32-unit apartment property in Elgin, IL. The asset sold for $2,350,000.

Andrean Angelov, first VP investments, and Ryan D. Engle, SVP investments, exclusively marketed the property on behalf of the seller. Angelov and Engle, both based in Marcus & Millichap’s Chicago Oak Brook office, also represented the buyer.

Regency Apartments is located at 230 S. State St., within walking distance from downtown Elgin and numerous retail and dining options.

The Regency Apartments sale represented the Chicago Oak Brook office’s second transaction in Elgin this week. Previously, associate Tami Andrew and first VP Tammy A. Saia arranged the $1-million sale of a 9,562-square-foot office building at 452 N. McLean Blvd. The 100% leased property sold to an out-of-state buyer in a 1031 exchange.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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